Toronto-Dominion Bank is facing a class-action lawsuit over its refusal to pay travel insurance claims following trip cancellations triggered by the COVID-19 pandemic. TD turned down a $6,700 claim by Lyons, citing the travel credit available to him for the flights and cruise, according to the statement of claim filed in Ontario Superior Court. Lawyer Sivan Tumarkin, whose firm represents Lyons, says future credit does not amount to cash reimbursement and that TD must pay the Toronto resident's claims under the terms of its own travel insurance policy. Few individual claims against insurance companies have emerged since March due to the legal cost, Tumarkin said. The lawsuit against TD Bank and TD Home and Auto Insurance must be approved by a judge if it is to go ahead.

Source: CBC News September 09, 2020 15:56 UTC